Tint World Triple Net Leased Investment
Retail-Commercial
for Sale
| Catylist Listing ID: |
30826733 |
| Property Subtypes: |
Free-Standing Building
|
| Building Status: |
Proposed |
| Building Size (RSF): |
4,800 SF
|
| Gross Building Area: |
See Agent |
| Sale Price: |
$699,000 |
| Unit Price: |
$145.63 PSF |
| Property Use Type: |
Net Leased Investment (NNN) |
| Sale Terms: |
Other |
| Cap Rate: |
7.5% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
9/25/2023 |
Overview / Comments
Excellent triple net leased investment opportunity located in Pensacola, FL. The +/- 4,800 SF freestanding building is situated on approximately .52 acres off North W Street. The tenant, Tint World Automotive Styling Centers, has a 10-year lease commencing on February 1, 2023. Tint World’s lease has a fixed base rent for the first two years, with a 2% increase every year for the remainder of the lease. The large warehouse features a 1,200 SF showroom in front, an office, and two bathrooms. The building has a side drive-up loading dock, an alarm system, and a new roof coating as of November 2022. The site is located in a well-known industrial corridor in Pensacola. The structural and exterior elements of the premises, bearing walls, foundations, concrete slabs, and
roof shall be maintained by the landlord. The property is being offered at an attractive 7% cap rate and is an ideal opportunity for a passive investor looking for a corporate guaranteed asset in the state of Florida.
|
Current Tenants
| Tenant Business Name |
Tint World Automotive Styling Centers |
| Website URL |
https://www.tintworld.com |
| Industry Type |
Retail Trade |
| Lease Expiration |
10/2032 |
| Escalations |
fixed base rent for the first two years, 2% increase every year for the
the remainder of the lease |
Additional Details
| Nearest MSA: |
Pensacola-Ferry Pass-Brent |
| County: |
Escambia |
| Tax ID/APN: |
381S303001001020 |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
N W Street |
| Area Description: |
Pensacola is located on Florida’s Gulf Coast near the Florida/Alabama state line. The
Pensacola market has experienced explosive growth in recent years due to the high
population growth and strong median income. The strong economy and tourism have
fueled the housing and retail demand in Pensacola over recent years. The government has
a substantial presence in the metro, with more than 23,000 military and civilian personnel
employed at NAS Pensacola, located approximately 25 minutes from the site. Also,
Whiting Field Naval Base is approximately 35 minutes from the site. The property is in
close proximity to the core retail trade area, airport, hospital, Pensacola State College,
University of West Florida, and the beautiful tourist beach destinations such as Perdido
Key, Pensacola Beach, Gulf Breeze, and Navarre Beach
|
| Tenancy: |
Single Tenant |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Typical SF / Floor: |
4,800 SF |
| Property Condition: |
Good |
| Construction/Siding: |
Wood Siding |
| Parking Type: |
Surface |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
4,282 |
74,457 |
179,873 |
| Median Age: |
37.18 |
36.67 |
38.04 |
| Households: |
1,742 |
28,121 |
73,227 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither Gulf Coast CMLS nor
Moody's assume any liability for errors or omissions.
|
